Questions
May 8, 2012, 6:36 pm, in Buying
I am buying the house I live in via Short Sale. All paper work has been submitted and settlement is at the end of this month. The seller (MY LANDLORD) said if I don't give him $10,000 then he is not going to sell me the house. The mortgage company said I cannot do it because it is mortgage fraud. I explained that to the seller but he does not seem to care. Are there any public documents that would explain why it is fraud and the trouble that I can get into?
Does he have the right to kick me...
May 4, 2012, 7:30 am, in Legal
I own a condo in Boca Raton, FL and have definitley outgrown it and would like to purchase a single family home. My wife is not on the mortgage but we are both on a home equity line of credit on the condo which we owe around $26,000. The mortgage is around $95,000 which is right around the value of the home. I guess my question is, are there any options on transferring the line of credit? We have paid off about $14,000 in the past year and a half but our family is too big for the condo and we...
April 14, 2012, 4:52 pm, in Selling
Every townhome comparable to mine is priced nowhere near what this house was purchased for 3 years ago. The 3-year mandatory stay period for the tax credit is coming up soon and we are ready to leave Lexington. Identical floorplan home across the street recently sold for 98k, which would be a significant loss for us. We are in our 20's and can't take that kind of a hit, but really want to move from Lexington. Will the market come back? What are some other...
April 14, 2012, 1:16 pm, in Foreclosure
I purchased a condo in 2004 for $155K. Now, in 2012, I owe $135K on the mortgage. In 2009, I purchased a house with my husband but could not sell the condo as I was $50K under water on it so the condo is now an investment property and has been rented steadily since then. My HOA has elected to make $2.1 Million in improvements to the property, passing on the cost to the owners, which translates to a $36K bill to me (or $64K if I pay it over 20 years via a loan through the city, repaying it via...
March 29, 2012, 2:06 am, in Legal
I bought an acre of land with ba single family home and two storage buildings via a quick claim deed. Now I am looking to sell the properity and all buildings on the land. However the buyers lawyer said that if purchases the land he can not get title insurance on it. Why is this not possible when there are no leans and the deed is 100%...
March 26, 2012, 9:43 pm, in Foreclosure
I have an interest only loan on my condominium. A year ago, I tried to do a loan modification so I could secure a better loan in which I had a lower interest rate and some of my payment was going toward principal. The appraisal came in too low for what I owe on the mortgage and therefore, I was denied.
I am over $40,000 under- water on my condo, based on last year’s appraisal. Considering the short sales this past year in my complex, I am guessing $40,000 is on the low side of how much I’m
March 5, 2012, 7:02 pm, in Mortgages
About 4 years ago, before we were married, my husband bought a house with a VA mortgage from Countrywide. Almost a year after that he tried to refinance for a better rate, but his loan was not showing up with the VA. He was told there was paperwork that Countrywide had to file with the VA and they had a year to do it. He never tried again until now. He has been trying to do a streamline VA refinance for a lower rate. Bank of America who bought the original mortgage has it listed as...
February 21, 2012, 3:08 pm, in Legal
My husband and I bought our town home in 2005 with an ARM. We refinanced in 2007 to a FHA loan w a fixed rate through BOA. Now, we are 50,000 underwater, as we owe 185,000 and they are selling for 130-135000 in our development. Because we have an FHA loan, the federal programs do not apply to us. We can't do a traditional streamline refinance bc it would be pointless w the increase in PMI. It just doesn't seem right...is there anything we can...
February 20, 2012, 10:41 am, in Selling
I want to use a Bargain and Sale Deed to sell a piece of property that I inherited to a neighbor. For various reasons, it would be best for me to use a Quitclaim or a Bargain and Sale Deed without warranties. I need to know if a Bargain and Sale Deed without warranties is valid in...
February 12, 2012, 4:02 pm, in Legal
I sold a property my grandfather had, not knowing that someone else had a first option to buy. The title company and me have
Been trying to find people and get contact with the people.
Is there a document we can send and if they don't respond within a certain amount of time they forfeit their rights and
Interest in property?
The couple I sold it too are trying to threaten me saying it is fraud and they are going to file criminal charges, can they do that
Even though it was not my intent...
Questions